Did you think that you had missed the Jitney on a summer rental in the Hamptons? Don’t worry! This summer there are more than enough to go around.
It looks like Goldman Sachs managing directors aren’t the only ones who are too overworked to get to the beach these days.
The New York Post reports that most renters are too busy trying to keep their jobs to devote several months at a time boozing by the water. So instead of sinking money into a rental that spans Memorial Day through Labor Day, they’re seeking shorter (and cheaper) stays.
But while this opens up cottages to latecomers, it’s ticking off owners, who complain about having to clean their cottage/beach mansions more than once a season. Many are holding out for the golden beachgoer of summers past–the Memorial through Labor Day renter–buoyed by increasingly fragile hope and rumors that Jennifer Lopez is still looking for a place to rent. Alas, so few people can spend all summer summering anymore.
Still, landlords who did get on board with the influx of part-time Hamptons-goers are profiting, the Post notes. Just don’t expect a deal.
“We may see an influx of people who want deals from July through Labor Day, low-balling,” Brown Harris Stevens broker Noel Love told the Post. “But most of the properties I represent, if someone comes in and insults them with an offer, they say ‘Don’t bother.’ ”
We’re not sure it’s enough to make the other dogged landlords reconsider the profitability of shorter stays, but at least we know there are still some cottages on the market. Which, by the way, will be about 25 percent less come September.
Follow Sarah Grothjan via RSS.